Their vision was to form a watch company that could produce high-quality watches at a lower cost using interchangeable parts.

With financial backing from Samuel Curtis, of small-arms manufacturing fame, the watch production began in 1851, and the first small group of watches were finished in late 1852.

Based upon the experience of earlier failed trials, Howard and Dennison eventually perfected and patented their precision watch making machines, creating what has been called the American System of Watch Manufacturing.It took months to adjust the watches to the point where they were any better than other widely available timepieces. Bartlett." The company went through a series of financial reorganizations and renamings over the next decades. Parker movement was reintroduced as the model 1857 and sold for , no small amount in those days! By 1861, business had come to a standstill and bankruptcy seemed inevitable.The Waltham Watch Company was founded in 1850 by David Davis, Edward Howard, and Aaron Lufkin Dennison.The first watches produced went to officials of the company, and it was not until 1853 that the first watches were offered for sale to the public.Problems were encountered with the new production methods.